Park Ryan Inc. was a

municipal bond A municipal bond, commonly known as a muni, is a Bond (finance), bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal ...

firm on Wall Street, founded in 1953 by Darragh A. Park Jr. and James Van Pelt Ryan. The firm, based at 70 Pine Street (the

American International Building 70 Pine Street – formerly known as the 60 Wall Tower, Cities Service Building, and American International Building – is a 67-story, 952-foot (290 m) residential building in the Financial District of Lower Manhattan in New York City. B ...

) specialized in government tax-exempt bonds, and later in sinking fund financing. Park, Ryan participated in numerous syndicates for bond offerings led by large investment banks such as

Goldman Sachs Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, H ...

Merrill Lynch Merrill (officially Merrill Lynch, Pierce, Fenner & Smith Incorporated), previously branded Merrill Lynch, is an American investment management and wealth management division of Bank of America. Along with BofA Securities, the investment bank ...

, and Dillon, Read & Co., occupying a secondary position alongside such firms as Roosevelt & Cross, Kean, Taylor & Co., and G.H. Walker & Co. The firm was a participating underwriter in the sale of ' Big Mac' bonds for the

Municipal Assistance Corporation A Municipal Assistance Corporation (MAC) was an independent New York State public-benefit corporation created by the State of New York for purposes of providing financing assistance and fiscal oversight of a fiscally-distressed city. Two MACs are ...

, created by the State of New York in 1975 to deal with New York City's fiscal crisis. James Ryan died in 1964. After Darragh Park's death in 1973, Leonard J. Collins succeeded as Chairman of the firm. Collins decided to close and liquidate Park, Ryan in 1979 in response to declines in the bond market caused by the Federal Reserve's tighter monetary policy. In 1983, a group of investors led by Little Rock, Arkansas bankers Glenn R. Schultz and J.A. McEntire III purchased the firm's name, and opened several branch offices outside of New York. The firm ceased operating in the early 1990s.

References

{{reflist Defunct financial services companies of the United States Former investment banks of the United States Financial services companies established in 1953 Financial services companies disestablished in 1979 Companies based in New York City 1953 establishments in New York City 1979 disestablishments in New York (state)